Most Indicators are develpoed by Market Makers for retail traders to use. Majority of paid Indicators sold by general public or found online are renamed or purposed free indicators.
Please note that all indicators are time series lagged, hense why market makers want you to use then so they can use this to their benefit by issuing false signals through market manipulation.
This is the same reason why EA / Robots also fail over time. Their rules are based on lagged data based on past historical informaion, now add the latency effect and the issue is compounded. Not to metion that every backtesting report you will view is positively skewed since based on gross figures (Does not take Total Expense Ratio into account or account for any of negative drag).
My advice is to trade using quants based on current market price and ignore charts and candle sticks. Trading based on Vega using a significant Mu, in conjunction with the help of Theta, will virtually remove your exposure to Rho (Price movement up or down - therefore no need to guess which direction the market is going in today), while mitigating your brokers most powerful weapon, Lamba, which they use as a multiplier to gear Retail trading accounts forcing Stop Losses to be hit before the market reverse in your favour or causing blown accounts through forced liquidation.. Some brokers have caught on to this and may limit the total amount of open positions at any time to say 50 or 100 to remove your statistical advantage, therefore my only caveat to quantitative trading is to find a broker with no position caps/limits that is willing to offers the most leverage (Thanks to your synthetic 'hedge' of Rho, this increased lamba will effectively begin to continously compound tau thanks to Theta, therefore, significantly inceaing alpha the longer you keep your exposure (Trade) open. Hence why brokers charge swaps to prevent you from gaining his arbitrage transction. Worth noting this is only possible by reverse engineering the current arbitrage benefit tatics they employ against retail traders everyday. Keep in mind that when you close a profit of 10%, you effectively made 11%,, broker cleverly pockets the 1% without you even noticing.
